Your Money
The income earned before taxes and deductibles?
What is gross pay.
Your daily spending items.
What are needs?
A financial institution that handles money.
What is a bank?
When money is moved from one account to another account.
What is a transfer?
Money in paper or coin form.
What is cash?
Expenses that don't change each month.
What is a fixed expense?
These are things that you enjoy purchasing/doing with you money.
What are wants?
A card linked to either a checking or a savings account that can be used to withdraw money and make deposits at ATM's.
What is a debit card?
The percentage cost of borrowing money.
What is interest rate?
The money you earn by working.
What is income?
The income that you earn after all taxes and deductibles are taken out of your paycheck.
What is net pay?
Your iPhone phone is a need.
What is false?
To put money into your account.
What is deposit?
This item is used to record all withdrawals and deposits to your checking account.
What is a check register?
Buying items with the expectation that that their value will increase over time.
What is invest?
A bank account that earns interest.
What is a savings account?
Mortgage payments, electricity, water and trash pick up are all examples of what?
What is a need?
To take money out of your account.
What is withdrawal?
The lending of money.
What is a loan?
An increase in your earnings.
What is profit?
A financial plan for a defined period.
What is a budget?
Traveling, Netflix and going out to eat with my friends are all examples of what?
What is a want?
To sign the back of a check authorizing it to be exchanged for payment.
What is endorse?
A fee charged to you when you spend more money than you have in your account.
What is an overdraft fee?
Making larger and/or more frequent payments to a loan in order to pay the balance off sooner than the payoff date.
What is early pay off or prepayment?